These Terms constitute the entire agreement between you and the 4thTech Consortium with respect to the subject matter hereof and substitutes and supersedes any and all previous written or oral statements between you and the 4thTech Consortium. No provision of these Terms shall be considered waived unless such waiver is in writing and signed by the Party that benefits from the enforcement of such provision. No waiver of any provision in these Terms, however, will be deemed a waiver of a subsequent breach of such provision or a waiver of a similar provision. In addition, a waiver of any breach or a failure to exercise or enforce any right or provision of these Terms not any delay in exercising will not in any way affect, limit, or waive a Party’s rights hereunder at any time to enforce strict compliance thereafter with every term and condition hereof.
Materials, such as Whitepaper, published on the Website or elsewhere, are not binding and do not – unless explicitly referred to herein – form part of these Terms, and are of descriptive nature only.
The 4thTech Consortium may, at its sole discretion, assign its rights and/or delegate its duties under these Terms. You may not assign your rights or delegate your duties, and any assignment or delegation without the written consent of the 4thTech Consortium, which the 4thTech Consortium may withhold at its sole discretion, shall be void.
Purchasing FOUR Tokens from us does not create any form of partnership, joint venture or any other similar relationship between you and us.
Except as otherwise provided herein, these Terms are intended solely for the benefit of you and us and are not intended to confer third-party beneficiary rights upon any other person or entity.
Parts of these Terms will be automatically executed by the Smart Contract System. In the event of any inconsistency, these Terms are the original source of the rights and obligations and the Smart Contract System serves only for the automatic execution of these Terms. Then in case of conflict between these Terms and Smart Contract System, these Terms will prevail and will therefore be the binding version for both parties.
The 4thTech Consortium reserves the right to make changes, amendments, supplementations or modifications to these Terms at any time in its sole discretion and for any reason. We suggest that you review these Terms periodically for changes. If we make changes to these Terms, we will provide you with notice of such changes, such as by sending an email, providing notice on the Website or by posting the amended Terms on the Website and updating the date at the top of these Terms. In all other cases, the amended Terms will become effective for pre-existing Users upon the earlier of either; (1) the date Users receives the notice on the Website or their email address, or; (2) continued participation in the 4thTech private sale 15 days after the 4thTech Consortium publishes notice of such changes. Any amended Terms will apply prospectively to the 4thTech private sale after such changes become effective.
Information regarding collected funds will be published on the Website and it will be expressed in FOUR Tokens.
The notice of change of these Terms is considered as notice of termination of all rights and obligations between you and the 4thTech Consortium derived from these Terms, if you do not accept the amended Terms. If you do not agree to any amended Terms and you communicate your disagreement to the 4thTech Consortium, the agreement between you and the 4thTech Consortium is terminated by expiry of 15 days period which starts after; (1) the 4thTech Consortium provides you a notice of change of these Terms or the 4thTech Consortium publishes notice of such changes and; (2) you communicated your disagreement with the changes. If you do not inform us regarding your disagreement within the 15 days period after the 4thTech Consortium provides you a notice of change of these Terms or the 4thTech Consortium publishes notice of such changes, we will deem that you agree with the changed Terms.
These Terms are not boilerplate. If you disagree with any of them, believe that any should not apply to you, or wish to negotiate these Terms, please contact the 4thTech Consortium and immediately navigate away from the Website. Do not use the Website, Service or other related Services and participate in 4thTech private sale or purchase FOUR Tokens until you and the 4thTech Consortium have agreed upon new terms and conditions.
The rights and remedies conferred on the 4thTech Consortium by, or pursuant to, these Terms are cumulative and are in addition, and without prejudice, to all other rights and remedies otherwise available to the 4thTech Consortium at law.
Description of the 4thTech Services and FOUR Tokens
The 4thpillar Technologies or short 4thTech is the next-gen multi-blockchain ecosystem, Platform, cryptocurrency, and a suite of decentralized applications that enable users to exchange metadata, data files and instant messages from Wallet to Wallet in a secure and decentralized manner.
4thTech identity Protocol (i.e., FOURid) connects Wallets when data is exchanged. It serves as the public key exchange point between users. The data sender needs a public key of the receiver. At the same time, the FOURid provides Wallet address verification of an individual or an organisation by creating a link between an X.509 user’s online identity and blockchain Wallet address.
FOURdx, a 4thTech Blockchain “WeTransfer” Alternative. Unlike current centralized online data file exchange Solutions, FOURdx leverages trust sourced from the blockchain and provides a secure, immutable Wallet A to Wallet B (i.e., FOURwaL) data file exchange. It can also be defined as a decentralized network framework that supports any data exchange between wallet addresses of supported blockchains (i.e., Ethereum, HashNet, Polkadot, Edgeware and Solana). Supported by a modern intuitive web platform and thanks to multi-chain support, the FOURdx enables organizations and individuals to collaborate and exchange data in a secure, accessible, affordable and decentralised manner.
As a by-product of data exchange Protocol (i.e., FOURdx), the FOURns can leverage the power of blockchain to facilitate source and time confirmation for data files. With the capability of; (1) storing and timestamping digital data files; (2) providing the file checksum verification of the digital data authenticity, and; (3) providing access and review of the received data file details.
The FOURim Protocol leverages the Solana blockchain to serve as an immutable ledger exchanging encrypted messages from FOURwaL Wallet address A to FOURwaL Wallet address B theoretically in real-time.
Developed and deployed in 2018, FOUR acted as one of the technical components needed for the 4thTech ecosystem tokenization on Ethereum network, combining three technical utility features; (1) embedded TTS interface (i.e., token teleportation-service); (2) MTO (i.e., multiple-transfer option); (3) GAS feature. Due to Ethereum gas prices increase, the ERC-20 FOUR had to evolve to become a multiverse asset occupying the space of multi-chains, while being used as the primary means to enable 4thTech Services, Services discounts, incentivize participants and provide a default mechanism to store and exchange value.
Cross-chain interoperability of ERC-20 FOUR with other blockchains essentially increases the decentralisation of liquidity and unlocks a universe of possibilities for further development. The users instantly benefit from lower fees and the native economy of the bridged blockchain. With an unchanged total and circulating token supply, the FOUR ERC-20 exists on its native Ethereum blockchain, while a wrapped synthetic version exists on the bridged blockchains such as Binance Smart Chain and Solana. The ERC-20 FOUR original is used for Staking.
*Ethereum / ERC-20 FOUR
*Token name: The 4th Pillar Token
*Token symbol: FOUR
*Smart contact: 0x4730fb1463a6f1f44aeb45f6c5c422427f37f4d0
*Blockchain explorer: https://etherscan.io/token/0x4730fb1463a6f1f44aeb45f6c5c422427f37f4d0
*Utility: TTS, MTO, GAS, right to stake, right to access, right to signal
FOUR Token economy;
The 4thTech economy utilizes FOUR as a unit of value on the web Platform that enables token holders with the right to access applications and earn Services discounts by staking FOUR in the ecosystem.
FOUR Token utility;
4thTech FOUR Token is the ecosystem native utility token, used as the primary means to enable Services, incentivize participants. It represents a unit of value with the right to stake and access to Services discounts while enabling ecosystem tokenization.
Tokenization revenue model
Transaction cost will appear when exchanging data from Wallet to Wallet (i.e., FOURdx). As FOURdx is multi-blockchain interoperable (i.e., Ethereum, Tolar HashNet, Polkadot Edgeware, Solana), several options are available. For example, if the user opts for the Ethereum chain, the cost will be settled in ETH, if the user chooses Edgeware, the transaction (i.e., TX) cost will be settled in EDG. FOURdx TX cost is based on two factors; (1) blockchain network TX cost (varies from 0.0025$ to X), and; (2) added 4thTech service FEE margin (e.g., 5$).
The FOURim (i.e., instant messaging) transaction cost is for now solely based on the Solana blockchain network transaction cost and has no additional service FEE margin. One TX is needed to store the encrypted instant message to the Smart Contract. Tier 3 Staking of FOUR Tokens unlocks the FOURim service. The users will be able to enable the instant Wallet to Wallet messaging service by Tier 3 staking the FOUR Tokens on the 4thTech Web Platform. No FOUR Tokens are spent to activate the service.
(1) Public-blockchain network TX cost is based on two TX needed to execute data exchange (i.e., FOURdx). The first TX saves the link to the metadata file and checksum of the metadata file to the Smart Contract (i.e., SC) as the second TX sends the transaction fee in the native token (i.e., ETH, EDG, TOL, SOL) to the solution FEE taker address.
(2) 4thTech Services FEE margins are defined in FIAT but converted in ETH, EGD, TOL, SOL or FOUR based on the market exchange rate.
*Note; TX cost depends on the public blockchain network selected.
FEE&Cost calculation overview (applicable to all chains);
*First SC TX + Second TX = Total blockchain network TX cost
*SC TX cost + 4thTech service FEE surcharge = Total user cost
Explainers (Ethereum Use Case);
*GAS_UNITS: The amount needed to execute blockchain TX for 4thTech Wallet to Wallet data exchange (i.e., FOURdx)
*GAS_PRICE: refers to the FEE, or pricing value, required to successfully conduct a TX or execute a contract on the blockchain network. Pricing value correlates with network congestion
*NATIVE_FEE: 4thTech service FEE (e.g., 5$)
*FEE_DISCOUNT_FACTOR: Discount factor added if FOUR is STAKED. (e.g., 50% added discount if tier 3 staking is enabled)
*txCostBase = GAS_UNITS * GAS_PRICE (ETH TX calculation cost formula without 4thTech service FEE)
*txCostBaseInclFee = txCostBase + (NATIVE_FEE * FEE_DISCOUNT_FACTOR) (ETH TX calculation cost formula with 4thTech service FEE)
FOUR staking provides FOUR holders with rewards in the form of FOURdx service FEE margin discounts, while it enables the FOURim (i.e., instant messaging Protocol) right to access. By staking, the user agrees to lock up their FOUR Tokens for a certain period, during which they are unspendable. By staking FOUR, users actively support the 4thTech ecosystem by allocating resources to it and contribute to the stability of the network. Minimalistic and intuitive web Platform design enables users to stake FOUR with a single click.
FOUR staking will be enabled within the platform in the coming update. After choosing the staking tier, the Wallet FOUR balance must be sufficient. With a single click, the FOUR funds are staked at a staking smart contract address. As FOUR is an ERC-20 token, an Ethereum smart contract transaction is executed accompanied by Ethereum TX cost. After the smart contract transaction execution, the funds are staked at the staking smart contract address and the FOURdx service FEE discounts are activated. Tier 3 staking must be used so the FOURim (i.e., instant messaging service) is activated. After the staking period, the FOUR staked funds can be claimed back.
Cost calculation overview if using FOUR Staking;
*First SC TX + Second TX = Total public-blockchain network TX_GAS cost
*Public-blockchain SC TX_GAS cost + 4thTech service FEE_MARGIN surcharge - the FOUR staking enabled discounts = Total user FOURdx TX cost
FOUR Staking Discount tiers;
*Tier 1: 14 days FOUR staking: 10.000 FOUR = 10% DISCOUNT on 4thTech Services FEE_MARGIN surcharge
*Tier 2: 30 days FOUR staking: 20.000 FOUR = 15% DISCOUNT on 4thTech Services FEE_MARGIN surcharge
*Tier 3: 180 days FOUR staking: 50.000 FOUR = 50% DISCOUNT on 4thTech Services FEE_MARGIN surcharge + FOURim ACCESS ACTIVATION
FOUR Staking Service FEE Discount Use-case;
Let’s assume that:
*public blockchain TX cost = 0.03$
*FOURdx Services FEE_MARGIN = 5$
*Total user cost = 5,03$
*FOUR staking DISCOUNT = 50% (if FOUR is staked at the highest tier)
*Total user cost using FOUR staking = 2,53$ settled in native token (ETH, TOL, EDG, SOL) of the chosen supported public blockchain
*Network: Ethereum, HashNet, Polkadot, Solana
*Network type: public blockchains
*Speed: depends on the network stress
*Actual TX cost - variable (determined by ETH / TOL / EDG / SOL TX price)
*Services FEE margin in FIAT - fixed (determined by 4thTech)
*Price calculation is dynamic (each time a user connects, current transaction price shows).
*Service FEE discounts will be enabled via FOUR Token staking
Token Private Sale
*TGE event: 2018
*Token name: FOURTH PILLAR UTILITY TOKEN
*Token symbol: FOUR
*Maximum number of FOUR tokens issued: 400,000,000 (100%)
*FOUR tokens distributed: 400,000,000 (100%)
*Token standard: ERC-20
To serve the project's tokenization 400m ERC-20 FOUR utility tokens were deployed on Ethereum main-net in 2018. The current circulating supply (December 2021) represents close to 38% of the total supply and consists mostly of long term community token holders.
Research & Development: 30% (2-4 years vesting)
Team: 15% (2-4 years vesting)
Private Partners: 12% (2-4 years vesting)
*Research and development token reserves: 35% (vested until 2022 with a reserve right to gradually release and use up to 20% already in 2021 according to the project development needs)
*Team: 15% (vested until 2022)
*Private partners: 15%
The ownership of the FOUR Token does not include the right to;
*ownership of the 4thTech Consortium
*ownership of the 4thTech Consortium’s intellectual property
*ownership of the service’s IP
*profits of the service
*participate in decision making, unless options are put up on voting to FOUR Token holders
Certain Risks Relating to purchase, sale, ownership, custody and use of FOUR Tokens and participating in the 4thTech private sale.
As noted elsewhere in these Terms, the FOUR Tokens are not being structured or sold as securities or any other form of investment product. Accordingly, none of the information presented in these Terms is intended to form the basis for any investment decision, and no specific recommendations are intended. The 4thTech Consortium expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from; (1) reliance on any information contained in these Terms; (2) any error, omission or inaccuracy in any such information or; (3) any action resulting from such information.
There is a risk that in some jurisdictions the FOUR Tokens might be considered to be a security or some other type of regulated instrument in the future. The 4thTech Consortium does not give warranties or guarantees that FOUR Tokens are not a security in any and/or all jurisdictions. Each User of FOUR Tokens shall bear its own legal or financial consequences of FOUR Tokens being considered a security in their respective jurisdiction. Every User is bound to check if acquisition and disposal of FOUR Tokens is legal in its jurisdiction, and by accepting these Terms each User undertakes not to use FOUR Tokens should their use not be legal in the relevant jurisdiction. If a User establishes that the use of FOUR Tokens under these Terms is not legal in its jurisdiction, it should not use the FOUR Tokens, not acquire them and should immediately stop using or possessing them if such a case arises. By purchasing, selling, holding, owning, and using FOUR Tokens and participating in the 4thTech private sale, you expressly acknowledge and assume the following risks:
1. Risk of Losing Access to FOUR Tokens Due to Loss of Private Key(s), Custodial Error or your Error
A private key, or a combination of private keys, is necessary to control and dispose of FOUR Tokens stored in your digital Wallet or vault. Accordingly, loss of requisite private key(s) associated with your digital Wallet or vault storing FOUR Tokens will result in loss of such FOUR Tokens. Moreover, any third party that gains access to such private key(s), including by gaining access to login credentials of a hosted Wallet service you use, may be able to misappropriate your FOUR Tokens. Any errors or malfunctions caused by or otherwise related to the digital Wallet or vault you choose to receive and store FOUR Tokens, including your own failure to properly maintain or use such digital Wallet or vault, may also result in the loss of your FOUR Tokens. Additionally, your failure to precisely follow the procedures set forth in for buying and receiving FOUR Tokens, including, for instance, if you provide an incorrect receipt address, or provide an address that is not ERC-20 compatible, may result in the loss of your FOUR Tokens.
2. Risks Associated with the Ethereum Protocol
Because 4thTech Smart Contract System, FOUR Tokens and other Services are based on the Ethereum Protocol, any malfunction, breakdown or abandonment of the Ethereum Protocol may have a material adverse effect on the 4thtech Smart Contract System, Services or FOUR Tokens. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to the 4thTech Smart Contract System, FOUR Tokens and Services, including the utility of the FOUR Tokens for obtaining Services, by rendering ineffective the cryptographic consensus mechanism that underpins the Ethereum Protocol. Smart contracts concepts, the underlying software application and software Platform (i.e., the Ethereum blockchain) is still in an early development stage and unproven.
3. Risk of Mining Attacks
As with other decentralized cryptographic tokens based on the Ethereum Protocol, the FOUR Tokens are susceptible to attacks by miners in the course of validating FOUR Token transactions on the Ethereum blockchain, including, but not limited, to double-spend attacks, majority mining power attacks, and selfish-mining attacks. Any successful attacks present a risk to Services and the FOUR Tokens, including, but not limited to, accurate execution and recording of transactions involving FOUR Tokens. You understand and accept that the miners will ultimately be in control of the delivery of the FOUR Tokens via the smart contract mechanism, and that a majority of miners could agree at any point to make changes, updates, modifications to, or effect a deletion or destruction of the smart contract mechanism, and that such a scenario could lead to the FOUR Tokens losing intrinsic value and/or functionality.
4. Risk of Hacking and Security Weaknesses
Hackers or other malicious groups or organizations may attempt to interfere with the 4thTech Smart Contract System, Ethereum Wallet, User’s 4thTech Token Address, Services or the FOUR Tokens in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing. Furthermore, because the Smart Contract System and Services are based on open-source software, there is a risk that a third party or a member of the 4thTech Consortium team may intentionally or unintentionally introduce weaknesses into the core infrastructure of the Services, Ethereum Wallet, User’s 4thTech Token Address or Smart Contract System, which could negatively affect the Services, Ethereum Wallet, User’s 4thtech Token Address and the FOUR Tokens, including the utility of the FOUR Tokens for obtaining Services.
5. Risks Associated with Markets for FOUR Tokens
The FOUR Tokens are intended to be used solely within the Services and the 4thTech Consortium may not enable or otherwise facilitate any secondary trading or external valuation of FOUR Tokens. This may restrict the contemplated avenues for using FOUR Tokens to the provision or receipt of Services, and could therefore create illiquidity risk with respect to any FOUR Tokens you own. Even if secondary trading of FOUR Tokens is facilitated by third-party exchanges, such exchanges may be relatively new and subject to little or no regulatory oversight, making them more susceptible to fraud or manipulation. Furthermore, to the extent that third parties do ascribe an external exchange value to FOUR Tokens (e.g., as denominated in a fiat or digital currency), such value may be extremely volatile and diminish to zero. If you are purchasing the FOUR Tokens as a form of investment on a speculative basis or otherwise, or for a financial purpose, with the expectation or desire that their inherent, intrinsic or cash- equivalent value may increase with time, you assume all risks associated with such speculation or actions, and any errors associated therewith, and accept that the FOUR Tokens are not offered by the 4thTech Consortium or its affiliates on an investment or speculative basis. You further acknowledge that any funds you consider to be invested in the 4thTech Consortium, Services or the FOUR Tokens will not be protected, guaranteed or reimbursed by any governmental, regulatory or other entity, and will not, for instance be guaranteed by any Europe's guarantee scheme, and is unlikely to be protected by any equivalent scheme in a jurisdiction outside of Europe.
6. Risks Associated with Uncertain Regulations and Enforcement Actions
Blockchain technology allows new forms of interaction and that it is possible that certain jurisdictions will apply existing regulations on, or introduce new regulations addressing, blockchain technology based applications, which may be contrary to the current setup of the smart contract implemented in the 4thTech private sale and which may, inter alia, result in substantial modifications to the smart contract and/or the Services, including its termination and the loss of your FOUR Tokens. Additionally, regulation of the business of the 4thTech Consortium may be uncertain in various jurisdictions owing to the potential crossovers between the treatment of the business of the 4thTech Consortium across insurance Services and blockchain technology laws and regulations. It is not known what regulatory framework the 4thTech private sale and the Services will be caught by, the nature and obligations that will be imposed on 4thTech Consortium in order to comply with any such regulatory framework or when/if 4thTech Consortium will even be able to apply to be regulated so that it may lawfully carry out its proposed business activities. The regulatory status of the FOUR Tokens and distributed ledger technology is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether regulatory agencies may apply existing regulation with respect to such technology and its applications, including the Services and the FOUR tokens. It is likewise difficult to predict how or whether legislatures or regulatory agencies may implement changes to law and regulation affecting distributed ledger technology and its applications, including the Services and the FOUR Tokens. Regulatory actions could negatively impact the Services and the FOUR Tokens in various ways, including, for purposes of illustration only, through a determination that the purchase, sale and delivery of the FOUR Tokens constitutes unlawful activity or that the FOUR Tokens are a regulated instrument that require registration or licensing of those instruments or some or all of the parties involved in the purchase, sale and delivery thereof. The 4thTech Consortium may cease operations in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction.
7. Risk of Uninsured Losses
Unlike bank accounts or accounts at some other financial institutions. FOUR tokens are uninsured unless you specifically obtain private insurance to insure them. Thus, in the event of loss or loss of utility value, there is no public insurer or private insurance arranged by 4thTech Consortium, to offer recourse to you.
8. Risks Arising from Taxation
The tax characterization of FOUR Tokens is uncertain. You must seek your own tax advice in connection with purchasing FOUR Tokens, which may result in adverse tax consequences to you, including withholding taxes, income taxes and tax reporting requirements. You are urged to consult your own tax adviser as to the tax consequences of the ownership and disposition of the FOUR Tokens, including the applicability and effect of any other tax laws or tax treaties, and of pending or proposed changes in applicable tax laws, and of any actual changes in applicable tax laws.
9. Risk of Competing Services
It is possible that alternative Services could be established that utilize the same open source code and Protocol underlying the Services and attempt to facilitate Services that are materially similar to the Services. The Services may compete with these alternatives, which could negatively impact the Services and FOUR Tokens, including the utility of the FOUR Tokens for obtaining Services.
10. Risk of Insufficient Interest in the Services
It is possible that the Services will not be used by a large number of individuals, companies and other entities or that there will be limited public interest in the creation and development of distributed Services more generally. Such a lack of use or interest could negatively impact the development of the Services and therefore the potential utility of the FOUR Tokens, including the utility of the FOUR Tokens for obtaining Services. The creation and issue of the FOUR Tokens and the development of the Services may be abandoned for a number of reasons, including lack of interest from the public, lack of funding, lack of commercial success or prospects (e.g. caused by competing projects). You therefore understand and accept that there is no warranty or assurance that, even if the Services is partially or fully developed and launched, you will receive any benefits through the FOUR Tokens that you hold.
11. Risks Associated with the Development and Maintenance of the Services
The Services is still under development and may undergo significant changes over time. Although we intend for the FOUR Tokens and Services to function as described in Exhibit A and intend to take commercially reasonable steps toward those ends, we may have to make changes to the specifications of the FOUR Tokens or Services for any number of legitimate reasons. Moreover, we have no control over how other participants will use the Services, what products or Services will be offered through the Services by third parties, or how third-party products and Services will utilize FOUR Tokens (if at all). This could create the risk that the FOUR Tokens or Services, as further developed and maintained, may not meet your expectations at the time of purchase. Furthermore, despite our good faith efforts to develop and participate in the Services, it is still possible that the Services will experience malfunctions or otherwise fail to be adequately developed or maintained, which may negatively impact the Services and FOUR Tokens, and the potential utility of the FOUR Tokens, including the utility of the FOUR Tokens for obtaining Services. 4thTech Consortium makes no warranties or representations and offers no assurances (in each case whether express or implied) that the FOUR Tokens shall confer any actual and/or exercisable rights of use, functionality, features, purpose or attributes in connection with the Services.
12. Risk of an Unfavourable Fluctuation of ETH Value
The 4thTech Consortium used the means received from the 4thTech private sale to fund the maintenance and development of the Services, as described further in Exhibit A. The means received from the 4thTech private sale were denominated in Ether, and may be converted into other cryptographic and fiat currencies. If the value of ETH fluctuates unfavourably, we may not be able to fund development, or may not be able to develop or maintain the Services in the manner that it intended. In addition to the usual market forces, there are several potential events which could exacerbate the risk of unfavourable fluctuation in the value of ETH including uncertainties created by the lack of resolution to the bitcoin scaling debate, the possibility of a so-called “Hard Fork” of bitcoin if one of the competing camps in the scaling debate decides to force the issue; another DAO-like attack on the Ethereum platform; or significant security incidents or market irregularities at one or more of the major cryptocurrency exchanges.
13. Risk of Hard Fork
The Services will need to go through substantial development works as part of which it may become the subject of significant conceptual, technical and commercial changes before release. As part of the development, an upgrade to the FOUR Token may be required (hard-fork of FOUR Token) and if you decide not to participate in such upgrade, you may no longer be able to use your FOUR Tokens and any non-upgraded FOUR Tokens may lose their functionality in full.
14. Risk of Dissolution of the 4thTech Consortium or Services
It is possible that, due to any number of reasons, including, but not limited to, an unfavourable fluctuation in the value of ETH (or other cryptographic and fiat currencies), decrease in the FOUR Tokens’ utility (including their utility for obtaining Services), the failure of commercial relationships, or intellectual property ownership challenges, the Services may no longer be viable to operate or the 4thTech Consortium may dissolve.
15. Risks Arising from Lack of Governance Rights
Because FOUR Tokens confer no governance rights of any kind (with the exception of snapshot preference signalling) with respect to the Services or the 4thTech Consortium, all decisions involving the 4thTech Consortium products or Services or the 4thTech Consortium itself will be made by the 4thTech Consortium at its sole discretion, including, but not limited to, decisions to discontinue its products or the Services, to create and sell more FOUR Tokens for using the Services, or to sell or liquidate the 4thTech Consortium. These decisions could adversely affect the Services and the utility of any FOUR Tokens you own, including their utility for obtaining Services.
16. Risks Arising from the Data Exchange Market
The data exchange industry, and by extension the Services, is subject to a variety of federal, state and international laws and regulations, including those with respect to KYC/AML and customer due diligence procedures, privacy and data protection, consumer protection, data security, and others. These laws and regulations, and the interpretation or application of these laws and regulations, could change. In addition, new laws or regulations affecting the Services could be enacted, which could impact the utility of the FOUR Tokens and the Services. Additionally, the Services participants are subject to industry specific laws and regulations or licensing requirements. If any of these parties fails to comply with any of these licensing requirements or other applicable laws or regulations, or if such laws and regulations or licensing requirements become more stringent or are otherwise expanded, it could adversely impact the Services and the FOUR Tokens, including the FOUR Tokens’ utility for obtaining Services.
18. Unanticipated Risks
Cryptographic tokens such as the FOUR Tokens are a new and untested technology. In addition to the risks included in this Exhibit B. There are other risks associated with your purchase, sale, ownership, custody, possession, and use of the FOUR Tokens, including those that the 4thTech Consortium cannot reasonably foresee. Such risks may further materialize as unanticipated variations or combinations of the risks discussed in this Exhibit B.
19. Sybil & Outsourcing Attacks
Creating multiple (Sybil) identities would theoretically allow for malicious nodes to pretend to store more copies of the same data, but having them stored only once and quickly fetched from the storing location when required to prove they are providing the service. This issue is addressed by establishing a similar mechanism to the Proof-of-Replication introduced in the Filecoin Whitepaper applied to graphs, with the consideration that the data used for the Services is public by design. With these preconditions in place, encryption is used to prove replication and not used to obscure data - it is up to the data creator to encrypt the input information they require to be obscured before inputting data into the system.
20. The 51% Attack
A 51% attack is usually defined as an ability to control an overwhelmingly large amount (at least 51%) of power in a decentralized system (i.e. hashing power in Ethereum), which then grants the ability to manipulate data. In terms of data integrity of the Services, such an attack is not a problem as for each graph it is deterministically verifiable that the data hasn’t been changed by comparing the hash extracted from the DH node with the cryptographic fingerprints in the blockchain layer. Additionally, DH nodes are incentivized to store in its proper form in order to be able to prove storage and receive compensation. If a node fails to provide proof of retrievability / replication, it can be easily substituted by another node in the system by the data creator.
21. Byzantine faults
Byzantine faults are defined as faults caused by nodes to deliver supply chain graph data either by being unavailable or having an incorrect data response. An incorrect response is defined as a response that cannot be validated by an appropriate hash fingerprint on the blockchain layer of services. Because of the data governance consensus of replicating the graph data in data holder nodes (where is the number of distinct supply chain data creator nodes), the probability of failure to deliver the requested data significantly diminishes with the number of involved nodes in the exchange. When a DH node fails to deliver service for a required period of time, the data distribution Protocol is used to find a new candidate node and replicate the data to keep the required number of copies of the services.
22. Eclipse attacks
Isolating a node or a multitude of them from the services by having all outbound connections reach malicious nodes is called the eclipse attack. This is addressed by using public key hashes as node IDs in Kademlia. To eclipse a node for using the services the attacker has to generate key pairs that position themselves closer in Kademlia to the targeted node than its nearest non-malicious neighbour, as well as maintaining that position when new nodes join with closer IDs. This problem grows in complexity as more nodes are introduced for using the services and essentially presents a form of proof-of-work problem.
23. Hostage data attacks
A malicious node might refuse to deliver certain graph data in order to extort data owners for additional tokens. This possibility is mitigated by replicating graph data across a multitude of nodes.
24. Internet transmission risks
There are risks associated with using the FOUR Tokens including, but not limited to, the failure of hardware, software, and Internet connections. The 4thTech Consortium shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when using the Website, Services and FOUR Tokens, however caused.
25. Less than full amount FOUR Tokens allocated to contributors
There can be no assurance that more than the minimum amount of FOUR Tokens will be allocated to contributors during the TGE. In case, less than the maximum necessary funds will be available to the 4thTech Consortium, consequently, its technology development and business development plans and prospects could be adversely affected.